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ElementsProject logoelements

Open Source implementation of advanced blockchain features extending the Bitcoin protocol

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Quick Overview

Elements is an open-source blockchain platform and distributed ledger technology that extends Bitcoin's functionality. It allows developers to create their own sidechains with custom features, assets, and consensus mechanisms while maintaining compatibility with the Bitcoin network.

Pros

  • Enables the creation of custom sidechains with advanced features
  • Supports confidential transactions for enhanced privacy
  • Provides a flexible framework for blockchain experimentation and innovation
  • Maintains compatibility with the Bitcoin ecosystem

Cons

  • Requires a deep understanding of blockchain technology to utilize effectively
  • May have a steeper learning curve compared to some other blockchain platforms
  • Limited adoption compared to more mainstream blockchain solutions
  • Documentation can be technical and may be challenging for beginners

Code Examples

// Creating a new asset
CAsset newAsset = CAsset(GenerateRandomBytes(32));

This code snippet demonstrates how to create a new asset in Elements by generating a random 32-byte identifier.

// Issuing confidential assets
CConfidentialValue amount(1000);
CTxOut txout(newAsset, amount, CScript() << OP_TRUE);

Here, we're issuing a confidential asset with an amount of 1000 units and a simple script.

// Performing a peg-in transaction
CPegInTransaction pegInTx;
pegInTx.nVersion = 2;
pegInTx.vin.push_back(CTxIn(outpoint));
pegInTx.vout.push_back(CTxOut(peggedAsset, amount, scriptPubKey));

This example shows how to create a peg-in transaction, which allows assets to be moved from the main Bitcoin blockchain to an Elements sidechain.

Getting Started

To get started with Elements:

  1. Clone the repository:

    git clone https://github.com/ElementsProject/elements.git
    
  2. Build Elements:

    cd elements
    ./autogen.sh
    ./configure
    make
    
  3. Run an Elements node:

    src/elementsd -chain=elementsregtest
    
  4. Interact with the node using RPC commands:

    src/elements-cli -chain=elementsregtest getblockchaininfo
    

For more detailed instructions and documentation, refer to the project's GitHub repository and official documentation.

Competitor Comparisons

78,874

Bitcoin Core integration/staging tree

Pros of Bitcoin

  • Larger and more active community, resulting in more frequent updates and contributions
  • Established track record as the original cryptocurrency, with higher adoption and recognition
  • More extensive documentation and resources available for developers

Cons of Bitcoin

  • Less flexible for implementing new features or experimenting with blockchain technology
  • Slower to adopt changes due to its conservative approach and need for widespread consensus
  • Limited support for advanced smart contract functionality

Code Comparison

Bitcoin:

CAmount GetBlockSubsidy(int nHeight, const Consensus::Params& consensusParams)
{
    int halvings = nHeight / consensusParams.nSubsidyHalvingInterval;
    // Force block reward to zero when right shift is undefined.
    if (halvings >= 64)
        return 0;

    CAmount nSubsidy = 50 * COIN;
    // Subsidy is cut in half every 210,000 blocks which will occur approximately every 4 years.
    nSubsidy >>= halvings;
    return nSubsidy;
}

Elements:

CAmount GetBlockSubsidy(int nHeight, const Consensus::Params& consensusParams)
{
    CAmount nSubsidy = consensusParams.nInitialBlockSubsidy;
    if (consensusParams.SubsidyHalvingInterval() && nHeight >= consensusParams.SubsidyHalvingInterval()) {
        nSubsidy >>= (nHeight / consensusParams.SubsidyHalvingInterval());
    }
    return nSubsidy;
}

The Elements code shows more flexibility in handling block subsidies, allowing for customizable parameters through the consensus rules.

7,670

Lightning Network Daemon ⚡️

Pros of lnd

  • More focused on Lightning Network implementation, offering specialized features for off-chain transactions
  • Larger community and more extensive documentation, making it easier for developers to get started
  • Better integration with existing Bitcoin infrastructure and wallets

Cons of lnd

  • Less flexible for creating custom blockchain applications compared to Elements
  • More complex setup and configuration process for users new to Lightning Network

Code Comparison

lnd

func (s *server) AddInvoice(ctx context.Context, invoice *lnrpc.Invoice) (
    *lnrpc.AddInvoiceResponse, error) {
    addIndex, err := s.cc.AddInvoice(invoice)
    if err != nil {
        return nil, err
    }
    return &lnrpc.AddInvoiceResponse{AddIndex: addIndex}, nil
}

Elements

CBlock CreateNewBlock(const CScript& scriptPubKeyIn, int64_t* pFees = NULL)
{
    unique_ptr<CBlockTemplate> pblocktemplate(new CBlockTemplate());
    CBlock& block = pblocktemplate->block;
    block.vtx.emplace_back();
    pblocktemplate->vTxFees.push_back(-1);
    pblocktemplate->vTxSigOps.push_back(-1);
}

The code snippets show different approaches: lnd focuses on Lightning Network-specific functionality, while Elements provides more general-purpose blockchain operations.

8,943

Monero: the secure, private, untraceable cryptocurrency

Pros of Monero

  • Enhanced privacy features with ring signatures and stealth addresses
  • Active development community and regular updates
  • Widely adopted and traded on major cryptocurrency exchanges

Cons of Monero

  • More complex codebase, potentially harder to maintain
  • Higher resource requirements for running a full node
  • Slower transaction confirmation times compared to Elements

Code Comparison

Monero (C++):

crypto::public_key tx_pub_key = get_tx_pub_key_from_extra(tx);
crypto::key_derivation derivation;
if (!generate_key_derivation(tx_pub_key, prv_view_key, derivation))
  return false;

Elements (C++):

CAmount nValue = 0;
if (!tx.vout[n].nValue.IsExplicit())
    return false;
nValue = tx.vout[n].nValue.GetAmount();

Both projects use C++ as their primary language. Monero's code focuses on cryptographic operations for privacy, while Elements emphasizes blockchain functionality and asset issuance. Monero's codebase is generally more complex due to its privacy features, while Elements builds upon Bitcoin's codebase with additional features for sidechains and asset issuance.

4,940

Zcash - Internet Money

Pros of Zcash

  • Enhanced privacy features with zero-knowledge proofs
  • Dedicated focus on privacy-preserving cryptocurrency
  • Active development and research in cryptographic innovations

Cons of Zcash

  • More complex codebase due to advanced privacy features
  • Potentially slower transaction processing compared to Elements
  • Higher resource requirements for running a full node

Code Comparison

Zcash (privacy-focused transaction):

CTransaction tx = CreatePrivateTransaction(
    params, mtx, extsk, ovks, recipient_addrs, recipient_amounts,
    change_addr, fee, memo_data
);

Elements (confidential transaction):

CTransaction tx = ConstructTransaction(
    CConfidentialTxOut(recipient, nAmount, blinding_key),
    CConfidentialTxOut(change_address, change_amount, change_blinding_key)
);

Both projects aim to enhance privacy and fungibility in blockchain transactions, but Zcash focuses more on advanced cryptographic techniques for complete transaction privacy, while Elements provides a broader framework for extending Bitcoin's functionality, including confidential transactions.

Elements offers more flexibility for creating custom blockchain solutions, whereas Zcash is specifically designed as a privacy-centric cryptocurrency. The code examples highlight the difference in approach, with Zcash implementing zero-knowledge proofs and Elements using confidential transactions for privacy.

Go implementation of the Ethereum protocol

Pros of go-ethereum

  • Larger community and more extensive ecosystem
  • More comprehensive documentation and resources
  • Better support for smart contracts and decentralized applications

Cons of go-ethereum

  • Higher resource requirements for running a full node
  • Slower transaction processing compared to Elements
  • More complex codebase, potentially harder for new developers to contribute

Code Comparison

go-ethereum (Ethereum client implementation):

func (s *Ethereum) Start() error {
    // Start up the various services
    if err := s.startEthServices(); err != nil {
        return err
    }
    return nil
}

Elements (Bitcoin sidechain implementation):

bool AppInit(int argc, char* argv[])
{
    // Initialize the Bitcoin Core library
    if (!AppInitBasicSetup())
        return false;
    return true;
}

The code snippets show the initialization process for both projects. go-ethereum uses Go and focuses on starting Ethereum-specific services, while Elements uses C++ and initializes Bitcoin Core components.

go-ethereum is more suitable for developers looking to build decentralized applications on the Ethereum network, while Elements is better for those interested in Bitcoin sidechains and asset issuance. go-ethereum has a larger community and more resources, but Elements offers faster transaction processing and lower resource requirements.

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README

Elements Project blockchain platform

Build Status

https://elementsproject.org

This is the integration and staging tree for the Elements blockchain platform, a collection of feature experiments and extensions to the Bitcoin protocol. This platform enables anyone to build their own businesses or networks pegged to Bitcoin as a sidechain or run as a standalone blockchain with arbitrary asset tokens.

Modes

Elements supports a few different pre-set chains for syncing. Note though some are intended for QA and debugging only:

  • Liquid mode: elementsd -chain=liquidv1 (syncs with Liquid network)
  • Bitcoin mainnet mode: elementsd -chain=main (not intended to be run for commerce)
  • Bitcoin testnet mode: elementsd -chain=testnet3
  • Bitcoin regtest mode: elementsd -chain=regtest
  • Elements custom chains: Any other -chain= argument. It has regtest-like default parameters that can be over-ridden by the user by a rich set of start-up options.

Confidential Assets

The latest feature in the Elements blockchain platform is Confidential Assets, the ability to issue multiple assets on a blockchain where asset identifiers and amounts are blinded yet auditable through the use of applied cryptography.

Features of the Elements blockchain platform

Compared to Bitcoin itself, it adds the following features:

Previous elements that have been integrated into Bitcoin:

  • Segregated Witness
  • Relative Lock Time

Elements deferred for additional research and standardization:

Additional RPC commands and parameters:

The CI (Continuous Integration) systems make sure that every pull request is built for Windows, Linux, and macOS, and that unit/sanity tests are run automatically.

License

Elements is released under the terms of the MIT license. See COPYING for more information or see http://opensource.org/licenses/MIT.

What is the Elements Project?

Elements is an open source, sidechain-capable blockchain platform. It also allows experiments to more rapidly bring technical innovation to the Bitcoin ecosystem.

Learn more on the Elements Project website

https://github.com/ElementsProject/elementsproject.github.io

Secure Reporting

See our vulnerability reporting guide